City House Price Premium Brought by High-speed Rail
Download as PDF
As an important transportation infrastructure in China, high-speed railway construction has an important impact on housing price. Based on the housing price data of 31 new cities and cities from 2013 to 2015, the urban housing price decomposition model was built to analyze the impact of high-speed rail on the real estate price. Study found that: (1) the high-speed rail is significantly improved the city's real estate prices, mainly reflected in the urban population and GDP to house prices expected effect, the effect of the current period and late effect; (2) the changes in population and GDP caused by high-speed rail have significant heterogeneity on the impact of housing prices in cities of different sizes. Specifically, the population size brought by high-speed rail has a significant impact on housing prices in middle cities. In addition, the GDP change brought by high-speed rail has a significant impact on housing prices in small and medium-sized cities.
High-speed rail; House price; Population size; GDP